The ConDem government’s plan to, in effect, engineer a state-financed, speculative housing boom in a bid to stimulate expansion, sums up the increasingly desperate state of both the economy and the political classes.

So much so that a leading Tory commentator suggests that yesterday’s Budget signals the absolute inability of representative democracy to tackle the crisis. A Coalition brought together to tackle the budget deficit and restore some…

In Brussels, the old order is trembling at the prospect of Greece being thrown out of the euro and Italy – if Beppe Grillo had its way – deciding to quit the single currency. Giles Merritt from EU think-tank Friends of Europe said Brussels could handle old-style politicians like Silvia Berlusconi. Grillo really worried them, he added, because it was a “protest against the entire system, and they are afraid it is spreading to other countries”. He’s not wrong there.

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